(Reuters) -Suncor Vitality Inc stated on Friday its chief government, Mark Little, has stepped down after a string of fatalities at Canada’s third-largest oil producer.
Little was additionally stepping down as president and resigning from the board efficient instantly, the Calgary, Alberta-based firm stated in a press release here.
Kris Smith, the corporate’s government vice chairman of downstream will change Little as interim CEO, whereas the board launches a seek for a everlasting substitute.
Little’s resignation comes a day after a employee was killed at Suncor’s oil sands base plant in northern Alberta. It was the second fatality at a Suncor web site this yr and the thirteenth since 2014.
“Suncor is dedicated to reaching security and operational excellence throughout our enterprise, and we should acknowledge the place we have now fallen brief and acknowledge the essential want for change,” board chair Michael Wilson stated in a press release.
Little, who grew to become Suncor CEO in 2019 after serving as chief working officer, has been below strain to repair security and operational points. He advised buyers in February he took full accountability for fatalities on Suncor websites and vowed to enhance operations.
In April U.S.-based activist funding agency Elliot Administration disclosed a 3.4% stake in Suncor and urged the corporate to put in new board administrators, overhaul administration and start a strategic assessment, noting that Suncor’s share worth was lagging its friends.
Elliot’s public criticism elevated scrutiny of Little’s efficiency as chief government.
In 2020 Suncor was overtaken by rival Canadian Pure Assets Ltd as Canada’s most beneficial vitality firm.
Along with the fatalities, the corporate disenchanted buyers by making a significant dividend reduce in 2020, repeatedly lacking manufacturing steerage and working into operational points at its new Fort Hills oil sands mine which have delayed the challenge reaching full manufacturing capability.
Reporting by Abinaya Vijayaraghavan in Bengaluru; Modifying by Sandra Maler and William Mallard
